While the stock market’s attention has centered around the technology sector, with a special focus on today's artificial intelligence developments, certain stocks have gotten an unfair share of the price action and favor. Today, as the industry seems to cool down a bit, it might be time for other “left behind” names to start catching up to the leaders.
But this has nothing to do with momentum; in fact, it is the opposite of bullish momentum that investors should be looking for today. In a nutshell, everyone is always scared of buying stocks that have been beaten down, fearing that past behavior will repeat itself in the future. That may be the case, but not for shares of Super Micro Computer Inc. (NASDAQ: SMCI).
